Copying and distributing are prohibited without the permission of the publisher. If you wish to distribute this content please contact Christopher Hunt (firstname.lastname@example.org) for a quote.
Subscribe today: Order Euromoney by contacting us on +44 (0)20 7779 8999 (UK) or +1 212 224 3570.
Fund managers are pouring into primary bond issues because of lack of secondary liquidity. But what happens if that herd mentality remains, or even grows, when the market turns?